# 17 Pa.C.S. § 502: Powers of central or corporate credit unions

> Pennsylvania · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S502

## Section

- **Citation:** 17 Pa.C.S. § 502
- **Heading:** Powers of central or corporate credit unions
- **Jurisdiction:** Pennsylvania
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** PA Code / Title 17 / Chapter 5 / Section 502

## Text

(a) General rule.--A central or corporate credit union shall have the general power to enjoy the powers and privileges of

any other credit union incorporated under this title in addition to those powers enumerated in this section, or otherwise granted to corporate or central credit unions, regardless of any limitations or restrictions found elsewhere in this title.

(b) Special powers.--A central or corporate credit union shall have the following special powers to:

(1) Accept shares or deposits in any form from its members, any credit union chartered under the laws of the United States or of any state, including central or corporate credit unions, and credit union organizations and associations.

(2) Make loans to its members, any credit union chartered under the laws of the United States or of any state, including central or corporate credit unions, and credit union organizations or associations.

(3) Buy and sell any form of marketable debt obligations of domestic or foreign corporations or of Federal, state or local government units.

(4) Borrow from any source without limitations, accept demand deposits from any source and issue notes and debentures.

(5) Acquire or sell the assets and assume the liabilities of a member and to enter into agreements with any credit union organized under the laws of the United States or any state to discount or purchase loans made pursuant to government guaranteed loan programs or real estate loans made by any credit union or any obligations of the United States or any agency thereof held by any credit union. Cross References. Section 502 is referred to in section 103 of this title.

## Nearby sections

- [17 Pa.C.S. § 501 Powers.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S501.md)
- [17 Pa.C.S. § 502 Powers of central or corporate credit unions.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S502.md)
- [17 Pa.C.S. § 503 Regulation by department.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S503.md)
- [17 Pa.C.S. § 504 Fiscal year.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S504.md)
- [17 Pa.C.S. § 505 Capital and shares.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S505.md)
- [17 Pa.C.S. § 506 Joint accounts.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S506.md)
- [17 Pa.C.S. § 507 Minority and trust accounts.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S507.md)
- [17 Pa.C.S. § 508 Estate accounts.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S508.md)
- [17 Pa.C.S. § 509 Fees and charges.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S509.md)
- [17 Pa.C.S. § 510 Loan interest.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S510.md)
- [17 Pa.C.S. § 511 Power to borrow.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S511.md)
- [17 Pa.C.S. § 512 Loans.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S512.md)
- [17 Pa.C.S. § 513 Reserves.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S513.md)
- [17 Pa.C.S. § 514 Dividends.](https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S514.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_PA_T17_C5_S502. Check the current official text before relying on it. Not legal advice.